Juniper Networks to Acquire Funk Software
Acquisition Will Extend Leadership in Delivering Standards-based Security Solutions
SUNNYVALE, CA - November 14, 2005 - Juniper Networks, Inc. (Nasdaq: JNPR) today announced it has signed a definitive agreement to acquire Funk Software, a leading provider of standards-based network access security solutions, in a cash transaction valued at approximately $122 million. This acquisition will bring key technology to enhance Juniper Networks’ recently announced unified access control solution and further its strategy to secure and assure the delivery and performance of applications over an IP network. The move also reinforces Juniper’s commitment to delivering standards-based solutions that protect customers’ current investments, enabling them to secure the infrastructure they have today and overlay additional functionality as their needs evolve. With the addition of Funk Software’s technology, Juniper will be delivering the most comprehensive, open and broadly deployed network access solution available.
“Juniper is committed to delivering standards-based solutions that enable customers to secure the infrastructure they already have, allowing them to protect their technical and financial investments. The addition of Funk Software’s technology to Juniper’s security products portfolio will reinforce that commitment. Once again Juniper Networks is taking a leadership role as we continue to add value and intelligence to the network,” commented Rob Sturgeon, executive vice president and general manager, Security Products Group, Juniper Networks.
Funk Software develops products and technologies that protect the integrity of the network by ensuring both the user and the device meet an organization’s security policies before they are granted access. These solutions include market leading products such as its RADIUS/AAA server, Steel-Belted Radius, Odyssey Client, an 802.1X client for wireless and wired networks and its recently introduced Endpoint Assurance Product suite for network-based enforcement of endpoint integrity.
Built on open standards, including those developed by the Trusted Computing Group’s Trusted Network Connect (TNC) subgroup, Funk Software’s products are interoperable with products from a broad range of security and infrastructure vendors and are in widespread use on every type of network, public and private, wired and wireless. These solutions complement Juniper Networks’ existing endpoint intelligence, policy control and enforcement capabilities with Layer 2 support, thereby ensuring comprehensive security across both wired and wireless networks.
Funk Software’s products are backed by a strong engineering team, led by founder, Paul Funk, which has consistently demonstrated thought leadership and innovation within the security standards bodies. Juniper will continue to work with its industry partners within the TNC to drive open standards.
“RSA Security has worked with both Funk and Juniper for several years with the common goal of delivering standards-based secure network access for the individual user,” commented Art Coviello, president and CEO at RSA Security. “We’re pleased to see these two long-term partners come together. We look forward to continuing to work together on technology sharing initiatives, cross-licensing and driving open standards to the benefit of customers worldwide.”
The acquisition is expected to close in December 2005, subject to certain customary closing conditions including Hart Scott Rodino approval.
Juniper Networks will host a conference call web cast today, November 14, 2005 at 7:00 a.m. PT/10:00 a.m. ET to discuss this acquisition and related matters. To access the web cast and view accompanying slide presentation please go to www.juniper.net/company/investor/announcement.html In addition, you can listen live by calling 1-800-496-1607 or, for international callers, 1-415-904-7306.
There will be an audio replay available at: 1-800-633-8284 or, for international callers, 1-407-977-9141, passcode: 21268886. The replays will be available 24 hours/day, including weekends, through November 21, 2005.
About Funk Software
Funk Software is a leading provider of network access security solutions for networks of any size, from enterprise to operator, wired or wireless. The company’s family of RADIUS/AAA and WLAN security products allow an organization to enforce a uniform security policy across all network access methods, including WLAN, remote/VPN, dial, and identity-based (wired 802.1X) - with the performance and reliability to handle any traffic load, and with full support for any network infrastructure. Funk Software’s customers include many of the world’s largest corporations, institutions, telecommunications carriers, and internet service providers (ISPs); its products are licensed or resold by numerous leading manufacturers of Internet hardware and software. Founded in 1982, Funk Software is headquartered in Cambridge, Massachusetts. For more information, visit www.funk.com.
About Juniper Networks, Inc.
Juniper Networks is the leader in enabling secure and assured communications over a single IP network. The company’s purpose-built, high performance IP platforms enable customers to support many different services and applications at scale. Service providers, enterprises, governments and research and education institutions worldwide rely on Juniper Networks to deliver products for building networks that are tailored to the specific needs of their users, services and applications. Juniper Networks’ portfolio of proven networking and security solutions supports the complex scale, security and performance requirements of the world’s most demanding networks. Additional information can be found at www.juniper.net.
Juniper Networks and the Juniper Networks logo are registered trademarks of Juniper Networks, Inc. in the United States and other countries. All other trademarks, service marks, registered trademarks, or registered service marks are the property of their respective owners.
Statements in this release concerning Juniper Networks’ business outlook, future financial and operating results, and overall future prospects, including but not limited to, the completion of the acquisition of Funk Software and the possible effect of the acquisition on Juniper Networks’ future earnings, are forward looking statements that involve a number of uncertainties and risks. Actual results could differ materially from those anticipated in those forward-looking statements as a result of certain factors, including: general economic conditions globally or regionally; business and economic conditions in the networking industry; changes in overall technology spending; the network capacity requirements of communication service providers; increases in competition; the timing of orders and their fulfillment; availability and cost of key parts and supplies; ability to establish and maintain relationships with distributors and resellers; variations in the expected mix of products sold; changes in customer mix; customer and industry analyst perceptions of Juniper Networks and its technology, products and future prospects; delays in scheduled product availability; market acceptance of our products and services; rapid technological and market change; adoption of regulations or standards affecting our products, services or industry; the ability to successfully acquire, integrate and manage Funk Software’s businesses and technologies; product defects, returns or vulnerabilities; the ability to recruit and retain key personnel; currency fluctuations; litigation; and other factors listed in our most recent report on Form 10-Q filed with the Securities and Exchange Commission. All statements made in this press release are made only as of the date set forth at the beginning of this release. Juniper Networks undertakes no obligation to update the information in this release in the event facts or circumstances subsequently change after the date of this press release.
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